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Article: Region-Specific Estimates of the Determinants of Residential Investment

TitleRegion-Specific Estimates of the Determinants of Residential Investment
Authors
KeywordsPanel data model
Residential investment differentials
China regions
Issue Date2011
Citation
Journal of Urban Planning and Development, 2011, v. 137, n. 1, p. 1-6 How to Cite?
AbstractThis paper adopts a reduced-form equilibrium model to investigate the possible sources of residential investment differentials among 22 provinces, five autonomous regions, and four municipalities in the People's Republic of China. The model is estimated using panel data from 31 Chinese regions during the period between 2001 and 2006, yielding a total of 186 observations. Empirical results should hopefully shed light on the adjustment mechanism of the Chinese residential-property market. Specifically, this paper suggests that change in population, income, and business confidence are the major determinants that cause residential investment to vary among different regions. The relatively small coefficients of real interest rates and planning regulations suggest that they have significant but modest impacts on residential investment. © 2011 American Society of Civil Engineers.
Persistent Identifierhttp://hdl.handle.net/10722/219642
ISSN
2015 Impact Factor: 2.246
2015 SCImago Journal Rankings: 0.619

 

DC FieldValueLanguage
dc.contributor.authorChoy, Lennon H T-
dc.contributor.authorHo, Winky K O-
dc.contributor.authorMak, Stephen W K-
dc.date.accessioned2015-09-23T02:57:36Z-
dc.date.available2015-09-23T02:57:36Z-
dc.date.issued2011-
dc.identifier.citationJournal of Urban Planning and Development, 2011, v. 137, n. 1, p. 1-6-
dc.identifier.issn0733-9488-
dc.identifier.urihttp://hdl.handle.net/10722/219642-
dc.description.abstractThis paper adopts a reduced-form equilibrium model to investigate the possible sources of residential investment differentials among 22 provinces, five autonomous regions, and four municipalities in the People's Republic of China. The model is estimated using panel data from 31 Chinese regions during the period between 2001 and 2006, yielding a total of 186 observations. Empirical results should hopefully shed light on the adjustment mechanism of the Chinese residential-property market. Specifically, this paper suggests that change in population, income, and business confidence are the major determinants that cause residential investment to vary among different regions. The relatively small coefficients of real interest rates and planning regulations suggest that they have significant but modest impacts on residential investment. © 2011 American Society of Civil Engineers.-
dc.languageeng-
dc.relation.ispartofJournal of Urban Planning and Development-
dc.subjectPanel data model-
dc.subjectResidential investment differentials-
dc.subjectChina regions-
dc.titleRegion-Specific Estimates of the Determinants of Residential Investment-
dc.typeArticle-
dc.description.natureLink_to_subscribed_fulltext-
dc.identifier.doi10.1061/(ASCE)UP.1943-5444.0000030-
dc.identifier.scopuseid_2-s2.0-79952338601-
dc.identifier.volume137-
dc.identifier.issue1-
dc.identifier.spage1-
dc.identifier.epage6-

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